Combat Buyer's Remorse
You just got the call—your offer’s been accepted and you’re now a homeowner! So why do you feel like driving off a cliff ala Thelma and Louise?
It’s called buyer’s remorse, and it’s as universal as the common cold. But statistics show 74 percent of first-time buyers and 67 percent of repeat buyers say they like their new home better than their previous residence.
So when buyer’s remorse hits, review this list to remind yourself why you wanted to buy a house in the first place. Pros and cons list help you overcome the feeling of remorse.
Renting: l No tax benefit l No investment in or from the property l No equity l Rent payment can increase l Possibility of eviction
Buying: l Greater stability l Usually good investment l Equity builds l First home often leads to better home l Greater individuality in décor/space arrangement l Sense of security.